Chrysos Corporation Limited says it has signed 10 new PhotonAssay™ lease agreements with existing customer Britannia Mining Solutions (BMS), bringing Chrysos’ total number of deployed or contractually-committed units to 48.
The combined initial five-year terms of the 10 new BMS lease agreements increases Chrysos’ Total Contract Value by A$149 million ($106 million) to A$705 million.
The first of BMS’ 12 PhotonAssay units is set to arrive in Montreal in the September quarter of 2023. In due course, BMS’ hub-and-spoke market expansion plan will deliver PhotonAssay technology to strategically important mining centres across the US, Canada, Central and South America, the Middle East and Europe.
Chrysos Managing Director and Chief Executive Officer, Dirk Treasure, said: “These 10 new PhotonAssay leases signal a significant expansion of the existing relationship between Chrysos and Britannia Mining Solutions.
“We are particularly excited by BMS’ targeted approach to the roll-out of its PhotonAssay units. Its proposed regional hub model offers flexibility for large and small miners globally and complements the existing mine site and near mine site deployment strategies of Chrysos’ other customers.”
PhotonAssay, Chrysos says, delivers faster, safer and more accurate analysis of gold, silver and complementary elements by non-destructive measurement of larger and more representative samples in as little as two minutes, enabling rapid turnaround of critical operational information that drives optimisation throughout the mining value chain.
The system, originally developed at Australia’s national science agency, CSIRO, provides an environmentally friendly, chemical-free, more sustainable replacement for traditional fire assay methods, significantly reducing CO2 emissions and hazardous waste.
Based in Canada, BMS’ parent company, Britannia Life Sciences, offers an integrated suite of services including analytical and microbiological testing, product development and quality assurance, plus safety and regulatory compliance.
Peter Shippen, CEO of Britannia Life Sciences, said: “Britannia is pleased to partner with Chrysos in revolutionising the global minerals analysis industry. Like Chrysos, our Mining Solutions team has an unwavering commitment to the creation of exceptional market value. The signing of these 10 new PhotonAssay lease agreements reflects the desire of both organisations to deliver unparalleled levels of customer service through faster, safer and more sustainable assaying technologies.”